SCOAX vs. TAUSX

Last updated Jun 23, 2026

SCOAX (SEI Institutional Investments Trust Core Fixed Income Fund) and TAUSX (John Hancock Investment Grade Bond Fund) are both Intermediate Core Bond funds. Over the past 10 years, SCOAX returned 1.89%/yr vs 1.55%/yr for TAUSX. Their correlation of 0.91 suggests significant overlap in exposure. SCOAX charges 0.36%/yr vs 0.74%/yr for TAUSX.

Performance

SCOAX vs. TAUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Investments Trust Core Fixed Income Fund (SCOAX) and John Hancock Investment Grade Bond Fund (TAUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCOAX achieves a 0.30% return, which is significantly higher than TAUSX's 0.20% return. Over the past 10 years, SCOAX has outperformed TAUSX with an annualized return of 1.89%, while TAUSX has yielded a comparatively lower 1.55% annualized return.

SCOAX

• 1D: 0.23%
• 1M: 0.82%
• YTD: 0.30%
• 6M: 0.65%
• 1Y: 4.79%
• 3Y*: 3.82%
• 5Y*: -0.41%
• 10Y*: 1.89%

TAUSX

• 1D: 0.33%
• 1M: 1.00%
• YTD: 0.20%
• 6M: 0.77%
• 1Y: 4.90%
• 3Y*: 3.57%
• 5Y*: -0.62%
• 10Y*: 1.55%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SCOAX vs. TAUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCOAX SEI Institutional Investments Trust Core Fixed Income Fund	0.30%	7.56%	0.82%	5.44%	-14.84%	-1.49%	9.49%	9.59%	0.11%	5.07%
TAUSX John Hancock Investment Grade Bond Fund	0.20%	7.38%	0.94%	4.76%	-14.69%	-1.49%	9.52%	8.71%	-0.38%	3.88%

Correlation

The correlation between SCOAX and TAUSX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997	0.91

The correlation between SCOAX and TAUSX has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.

Return for Risk

SCOAX vs. TAUSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SCOAX

SCOAX Risk / Return Rank: 21
SCOAX Sharpe Ratio Rank: 21
SCOAX Sortino Ratio Rank: 23
SCOAX Omega Ratio Rank: 20
SCOAX Calmar Ratio Rank: 22
SCOAX Martin Ratio Rank: 19

TAUSX

TAUSX Risk / Return Rank: 20
TAUSX Sharpe Ratio Rank: 21
TAUSX Sortino Ratio Rank: 21
TAUSX Omega Ratio Rank: 20
TAUSX Calmar Ratio Rank: 20
TAUSX Martin Ratio Rank: 17

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SCOAX vs. TAUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Investments Trust Core Fixed Income Fund (SCOAX) and John Hancock Investment Grade Bond Fund (TAUSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SCOAX	TAUSX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.21	+0.02
Sortino ratio: Return per unit of downside risk	1.86	1.79	+0.07
Omega ratio: Gain probability vs. loss probability	1.22	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	1.62	1.52	+0.10
Martin ratio: Return relative to average drawdown	4.56	4.27	+0.29

SCOAX vs. TAUSX - Sharpe Ratio Comparison

The current SCOAX Sharpe Ratio is 1.23, which is comparable to the TAUSX Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of SCOAX and TAUSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SCOAX vs. TAUSX - Drawdown Comparison

The maximum SCOAX drawdown since its inception was -20.12%, roughly equal to the maximum TAUSX drawdown of -19.90%. Use the drawdown chart below to compare losses from any high point for SCOAX and TAUSX.

Drawdown Indicators

	SCOAX	TAUSX	Difference
Max Drawdown Largest peak-to-trough decline	-20.12%	-19.90%	-0.22%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-3.23%	+0.17%
Max Drawdown (3Y) Largest decline over 3 years	-7.02%	-7.29%	+0.27%
Max Drawdown (5Y) Largest decline over 5 years	-19.90%	-19.90%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-20.12%	-19.90%	-0.22%
Current Drawdown Current decline from peak	-3.80%	-4.40%	+0.60%
Average Drawdown Average peak-to-trough decline	-5.46%	-2.37%	-3.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.15%	-0.07%

Volatility

SCOAX vs. TAUSX - Volatility Comparison

The current volatility for SEI Institutional Investments Trust Core Fixed Income Fund (SCOAX) is 1.22%, while John Hancock Investment Grade Bond Fund (TAUSX) has a volatility of 1.30%. This indicates that SCOAX experiences smaller price fluctuations and is considered to be less risky than TAUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCOAX	TAUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	1.30%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.98%	3.11%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	4.02%	4.07%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.37%	6.07%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.23%	5.00%	+0.23%

SCOAX vs. TAUSX - Expense Ratio Comparison

SCOAX has a 0.36% expense ratio, which is lower than TAUSX's 0.74% expense ratio.

Dividends

SCOAX vs. TAUSX - Dividend Comparison

SCOAX's dividend yield for the trailing twelve months is around 4.26%, more than TAUSX's 4.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCOAX SEI Institutional Investments Trust Core Fixed Income Fund	4.26%	4.19%	3.57%	2.98%	2.11%	1.69%	6.04%	4.24%	3.16%	3.67%	3.79%	4.73%
TAUSX John Hancock Investment Grade Bond Fund	4.05%	3.99%	3.40%	2.64%	2.50%	2.25%	4.49%	2.83%	2.83%	2.65%	2.66%	2.88%

Frequently Asked Questions

Can I hold both SCOAX and TAUSX in my portfolio?

With a correlation of 0.95, SCOAX and TAUSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SCOAX or TAUSX?

TAUSX has higher volatility (1.30%) compared to SCOAX (1.22%). In terms of maximum drawdown, SCOAX dropped -20.12% vs TAUSX's -19.90%.

Which has better risk-adjusted returns?

SCOAX currently has the higher Sharpe Ratio (1.23 vs 1.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.